São Paulo – Brazil should become the world’s leading soy producing country in the 2013-2014 crop, according to projections released this Wednesday (9th) by the Ministry of Agriculture, based on data from the National Supply Company (Conab, in the Portuguese acronym). According to the organization, the next crop should yield from 87.6 million to 89.7 million tonnes of soy.
The United States Department of Agriculture (USDA) forecasts that 85.7 million tonnes of the commodity should be harvested in the coming crop. The yield will not be higher, according to the USDA, due to the ongoing drought.
Apart from the problems with American production, the Brazilian 2013-2014 soy crop output should be up 23.8% from the preceding crop, according to Conab forecasts. According to the organization, the total planted area for soy may reach 29.3 million hectares in the next crop.
According to the Conab, the reasons for increased soy output and planted area in the next Brazilian crop were good yields and international prices.
*Translated by Gabriel Pomerancblum
